MANILA, Philippines — Senate President Francis Escudero is confident that a new law which allows foreign investors to lease private land for up to 99 years woll make the country look more like an ideal investment destination.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://www.gangzhifhm.com
"Foreign investors have long complained about the prohibitive provisions of our laws regarding the ownership of land by non-Filipinos. Businesses will never place their funds in destinations where there is uncertainty in laws and regulations. This law will go a long way in addressing these concerns," Escudero, an author of the law, said in a statement on Saturday.
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252.
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
Escudero says new lease law to make PH more appealing to investors
- Ex-HPG officer faces P7M bribery probe
- Thailand acting PM moves to dissolve parliament — party
- Hopes dim for Putin-Zelenskyy peace summit
- Thailand's former Prime Minister Thaksin makes surprise departure ahead of a risky court ruling
- DILG suspends classes, gov’t work in 17 areas
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- DPWH exec fired, 2 others face dismissal over flood control mess
- Tokyo logs record 10 days of 35 C or higher
- UK's mass facial-recognition roll-out alarms rights groups
- Thailand's ex-PM Thaksin acquitted in royal insult case
